I have to run in a few minutes, so this will be a series of tweets. But just think about what this means for the balance of economic power in the world. Also consider—KSA, Iran, UAE all joining up. What a diplomatic triumph this looks like. Uniting, rather than the imperial tactic of dividing and conquering:
Yes! And also Iran and the North South Transport Corridor. Adding Iran to membership was sort of a surprise to me until I thought of the NSTC. So now the BRICS will have control of that, control of the Persian Gulf (UAE), the Suez, the southern route, the northern sea route, and everything overland from Asia to Europe. Nice play for them; not so good for Europe (and us).
I couldn't figure out why Ethiopia. Proximity to the Red Sea / Gulf of Aden? Or maybe it is this:
I keep thinking a gold based method could be deployed fairly quickly. It would not necessarily need a central bank in the Western sense, just the transparent auditable ability to assign gold ownership without physically moving the gold. Call it the AUzoe for an ounce of gold. Instead of a central bank it would have teams of auditors with unlimited access to gold storage and records for gold ownership that would circulate through the AUzoesphere, auditing as they went.
National currencies would continue to exist. Trade among BRICS would just not need the Dollar. I may be missing a bunch of big issues.
Here is a good example of how the BRICS could use Gold to back trade absent the direct use of a reserve currency (in this case the Renminbi):
"Rumors are making rounds that Saudi Arabia is selling oil for yuan, which it converts into gold on the Shanghai International Gold Exchange (SGEI). Such a development would make sense as large parts of the world want to de-dollarize, but the renminbi is not suitable to be used as a reserve currency. China has a closed capital account and a weak rule of law. Not using the dollar could be done by using the renminbi as a trade currency and converting yuan revenue into gold on the SGEI."
Right. This BRICS "currency" isn't a currency in the usual sense. It's a system for settlements, settling big international transactions that gets around the dollar.
Russian diplomacy (and attendant intelligence capability) are presently top-of-game and world best. BRICS as a trading bloc weds the interests of majority-share energy producers, unique metals producers, historical cereal grain source for the Middle-East and Africa, and proven military materiel in a web of complimentary strengths & weaknesses: win-win. While the neo-con/globalists believe war is their (emphasis on the very few ultra-rich that make up "their") best strategy, the counter-move by the West is obvious (and *very* doable): drill, baby, drill and mine-away. That path will require dropping the societal-suicidal restrictions represented by climate change, off-shoring, and over-the-top (rent-seeking) regulatory blocks on accessing not just "stuff" but the transparency necessary to know the capital-use-risks (finance & hedge-funds). Icing on the cake for RU is that the public faces of diplomacy and Russia banking are exceptional women (Elvira Nubiullina is Governor of Bank of Russia = currency policy and Maria Zakharova is Director of the Information and Press Department of the Ministry of Foreign Affairs). The Western elite are experts at enriching themselves through what amounts to own-goals for the rest of us. Cannot last much longer, no way
It will get coverage, not as BRICS, but when the economy tanks. Like the Chinese spy balloon, when it was visible to the naked eye. And now the amateurs running things are actually giving coverage to the stolen election with all these indictments, only labelling the fraud claims false. How stupid to even bring them up.
O/T. How about Kristen Clarke going after Space X now.
I doubt President Xi's speech against a New Cold War is going to get much media coverage so I posted it at https://mikehampton.substack.com/p/president-xi-tells-brics-no-new-cold-war
Thanks!
Looking at a globe map, Argentina adds to why South Africa is part of BRICS.
The Roaring 40's.
The 2 countries that sit upon trans global ship transport routes via the southern route.
A serious strategic move methinks.
Is Panama on futures list? They require wire transfers only north of $300K per ship to transit.
Good point--and don't forget Egypt and Suez.
Yes! And also Iran and the North South Transport Corridor. Adding Iran to membership was sort of a surprise to me until I thought of the NSTC. So now the BRICS will have control of that, control of the Persian Gulf (UAE), the Suez, the southern route, the northern sea route, and everything overland from Asia to Europe. Nice play for them; not so good for Europe (and us).
I couldn't figure out why Ethiopia. Proximity to the Red Sea / Gulf of Aden? Or maybe it is this:
https://www.worldatlas.com/articles/what-are-the-major-natural-resources-of-ethiopia.html
In particular, Natural Gas.
I keep thinking a gold based method could be deployed fairly quickly. It would not necessarily need a central bank in the Western sense, just the transparent auditable ability to assign gold ownership without physically moving the gold. Call it the AUzoe for an ounce of gold. Instead of a central bank it would have teams of auditors with unlimited access to gold storage and records for gold ownership that would circulate through the AUzoesphere, auditing as they went.
National currencies would continue to exist. Trade among BRICS would just not need the Dollar. I may be missing a bunch of big issues.
Here is a good example of how the BRICS could use Gold to back trade absent the direct use of a reserve currency (in this case the Renminbi):
"Rumors are making rounds that Saudi Arabia is selling oil for yuan, which it converts into gold on the Shanghai International Gold Exchange (SGEI). Such a development would make sense as large parts of the world want to de-dollarize, but the renminbi is not suitable to be used as a reserve currency. China has a closed capital account and a weak rule of law. Not using the dollar could be done by using the renminbi as a trade currency and converting yuan revenue into gold on the SGEI."
From https://www.gainesvillecoins.com/blog/is-saudi-arabia-selling-oil-to-china-for-gold.
This approach was suggested during the last SCO meeting by the Chinese. I don't know if the KSA is actually doing this now but I suspect they are.
Right. This BRICS "currency" isn't a currency in the usual sense. It's a system for settlements, settling big international transactions that gets around the dollar.
Ala Swift…
That no longer works. The neocons picked on the wrong guy.
Russian diplomacy (and attendant intelligence capability) are presently top-of-game and world best. BRICS as a trading bloc weds the interests of majority-share energy producers, unique metals producers, historical cereal grain source for the Middle-East and Africa, and proven military materiel in a web of complimentary strengths & weaknesses: win-win. While the neo-con/globalists believe war is their (emphasis on the very few ultra-rich that make up "their") best strategy, the counter-move by the West is obvious (and *very* doable): drill, baby, drill and mine-away. That path will require dropping the societal-suicidal restrictions represented by climate change, off-shoring, and over-the-top (rent-seeking) regulatory blocks on accessing not just "stuff" but the transparency necessary to know the capital-use-risks (finance & hedge-funds). Icing on the cake for RU is that the public faces of diplomacy and Russia banking are exceptional women (Elvira Nubiullina is Governor of Bank of Russia = currency policy and Maria Zakharova is Director of the Information and Press Department of the Ministry of Foreign Affairs). The Western elite are experts at enriching themselves through what amounts to own-goals for the rest of us. Cannot last much longer, no way
If the neocons weren't so evil, I'd feel sorry for them. It's men against boys.
Wonder How much of that uranium we're importing from Russia is because of the corrupt Uranium One deal?
You assume it’s left our shores.
In other words we’re buying back our own stuff? Great deal there, Hillary.
Or just repackaged and returned Uranium One uranium with restocking fees added?
LOL
My Magic 8-ball says:
"To ask the question is to know the answer."
My Magic 8-ball says we’re doomed if reliant on any candidates after last nights debate.
I can beat that, Rascal. We in Europe are still buying Russian oil and gas - via Indian middlemen at 3x the price. Clownworld!
We didn't get those till Year 12. Bloody Germans! :)
P.s. Germany is doomed.
The world respected and feared Trump, but he was also open to dialogue and negotiations. Stolen elections have consequences.
Yep. If Zhou’s admin ignores it then MSM ignores it.
Doesn't matter. It's happening whether the MSM covers it or not.
Less. No one will know it happened. Man in the street interview question in any city in the country:
What’s a BRIC? $1,000,000 for the first correct answer.
It will get coverage, not as BRICS, but when the economy tanks. Like the Chinese spy balloon, when it was visible to the naked eye. And now the amateurs running things are actually giving coverage to the stolen election with all these indictments, only labelling the fraud claims false. How stupid to even bring them up.